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Feb 12, 2013
02/13
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i think he's great. >> rose: you're also chairman of the new york city ballet. >> yeah. i'm laughing-- . >> rose: is that because you always had a lifelong interest in ballet or somebody in your family did or-- or they just needed somebody to make sure that their finances didn't get out of whack. >> i was asked to come in and do exactly that. my mentor for many, many years bob lipp has been on the board for 30 order years and bob said come on, help us out. and i am excited about it and it's a new experience. and great fun. and you know, something new to do. >> rose: thank you for coming. >> great pleasure to be here with you. >> rose: the film is called "overdraft" >> rose: adam posen is here. he is the president of the peterson institute for international economics. from 2009 to 2012 he has a member of the bank of england's nine man monetary policy committee. he was an early and often outspoken advocate of quantitative easing measures which were eventually a dad. in december an article about his time at the bank of england appeared in "the new york times" magazine. the
i think he's great. >> rose: you're also chairman of the new york city ballet. >> yeah. i'm laughing-- . >> rose: is that because you always had a lifelong interest in ballet or somebody in your family did or-- or they just needed somebody to make sure that their finances didn't get out of whack. >> i was asked to come in and do exactly that. my mentor for many, many years bob lipp has been on the board for 30 order years and bob said come on, help us out. and i am...
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Feb 27, 2013
02/13
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the city has ancient ruins such as the valley of the kings and the karnak temple along the nile river. the head of the travel agency in cairo points out that severe competition among balon operators for a diminishi nuer o touristsay he contributed to the incident. >> translator: when a similar accident happened three or four years ago, the egyptian government stopped balloon operations for six months to conduct safety checks. but after that the tourism ministry was no longer able to maintain safety controls. >> a travel coordinator who liaises between the egyptian government and hot air balloon firms told nhk the operator o the balon h tworevis accints in the past two years. >>> the leader of italy's center-left coalition says he'll ask the country's president to help coordinate talks to form a new coalition government. pier luigi bersani spoke after the results of a parliamentary election produced no clear winner. bersani's democratic party and its partners won a majority in the lower house. but no party secured a majority in the senate, setting the stage for a political stalemate. b
the city has ancient ruins such as the valley of the kings and the karnak temple along the nile river. the head of the travel agency in cairo points out that severe competition among balon operators for a diminishi nuer o touristsay he contributed to the incident. >> translator: when a similar accident happened three or four years ago, the egyptian government stopped balloon operations for six months to conduct safety checks. but after that the tourism ministry was no longer able to...
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Feb 6, 2013
02/13
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he rose to the ranks before moving to ebay. under his leadership ebay has gone from strength to strength including a 75% rally in share price. the company started off as an on-line auction house but it became a giant of e commerce. 70% of itssales and also owns pay pal an on-line payment system. i am pleased to have him here at this table. welcome. >> thank you, charlie. a pleasure to be here. >> charlie: my pleasure. so when you arrived at ebay and had the kinds of responsibilities you had before, what did you see? >> well, the fascinating thing about technology businesses in the internet is that a company can become a global brand and get global reach in a stunningly quick period of time. that's what e-bay did in its first five to ten years. he became a glal phenom in a stunningly short period of time. just as you can disrupt, you can be disrupted. ebay when i got there was beginning to be disrupted itself. >> charlie: by? the way disruption happens it doesn't come directly at you. product search didn't exist when ebay starte
he rose to the ranks before moving to ebay. under his leadership ebay has gone from strength to strength including a 75% rally in share price. the company started off as an on-line auction house but it became a giant of e commerce. 70% of itssales and also owns pay pal an on-line payment system. i am pleased to have him here at this table. welcome. >> thank you, charlie. a pleasure to be here. >> charlie: my pleasure. so when you arrived at ebay and had the kinds of responsibilities...
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Feb 27, 2013
02/13
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the city's economy. so these are good jobs if you can get them. >> reporter: the average bonus is expected to come in at around $122,000. but good luck finding one of those jobs. j.p. morgan is the latest bank to announce it plans to slash at least 3,000 jobs, or a little less than 2% of its workforce this year. >> looking at 2013, our expectation is that there will still be downward pressure on headcount. >> reporter: dinapoli's office estimates every one job on wall street supports three jobs in other industries in the new york area. but while more job cuts could still be on the horizon for wall street, dinapoli says we're not likely to see the full extent of changes in the industry for at least another two years. >> wall street is an industry that is still transforming itself. we don't really know what the new normal is at this point, and i guess the one bit of good news, especially from a new york perspective, is that we saw healthier profits, bonus pool going up, and that certainly should help us in
the city's economy. so these are good jobs if you can get them. >> reporter: the average bonus is expected to come in at around $122,000. but good luck finding one of those jobs. j.p. morgan is the latest bank to announce it plans to slash at least 3,000 jobs, or a little less than 2% of its workforce this year. >> looking at 2013, our expectation is that there will still be downward pressure on headcount. >> reporter: dinapoli's office estimates every one job on wall street...
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Feb 26, 2013
02/13
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not do it because of his own con city. >> ee. >> he's under a lot of pressure from the democratic wing of the democratic pert. >> rose: and how strong is the democratic wing of the democratic part and why does he care at this stage of the game. >> he cares because he has an agenda to do. these are his constituents. they helped elect him. he has to be responsive to them. he did float the idea of raising the retirement age from 65 to 67 for medicaid. we don't really know if that could happen again if the negotiations got serious. i'm not even sure that si a good idea. >> rose: that is the interesting thing about t you pointed this out in a weekend television appearance. sometimes they say they will do this and then they change. we are no longer willing to do that. so it's hard to get your finger in terms of exactly where we are talking about, at what stage was this promise made. and is it still viable. >> but in fairness to batt sides, life moves on. and whatever you said you might have done in the summer of 2011 it's now february of 2013. you're entitled too something different or say s
not do it because of his own con city. >> ee. >> he's under a lot of pressure from the democratic wing of the democratic pert. >> rose: and how strong is the democratic wing of the democratic part and why does he care at this stage of the game. >> he cares because he has an agenda to do. these are his constituents. they helped elect him. he has to be responsive to them. he did float the idea of raising the retirement age from 65 to 67 for medicaid. we don't really know...
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Feb 27, 2013
02/13
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a hot air balloon carrying tourists caught fire over the ancient city of luxor and crashed in a field. the dead were from europe and asia. in addition, the egyptian pilot and one british man were hospitalized with burns. italy's politicians searched for a way forward today after an election that left a political stalemate. that, in turn, generated new fears of economic fallout. we have a report from jonathan rugman of independent television news. >> reporter: the news from rome has sent shock waves across europe. a rebellion against austerity, a rebellion, too, against their fossilized politicians. this man has upturned the old order. a comedian, with a 20-hour working week, tax cuts and a referendum on the euro. the clown turned potential king maker here. this taxi driver backed him. it was a protest vote, he told me. he might be a comedian but he can't be worse than what we've got. the extraordinary success of his grass roots movement has taken italy by complete surprise. if you're looking for a party headquarters for him here in rome you won't find one. all there is this room in th
a hot air balloon carrying tourists caught fire over the ancient city of luxor and crashed in a field. the dead were from europe and asia. in addition, the egyptian pilot and one british man were hospitalized with burns. italy's politicians searched for a way forward today after an election that left a political stalemate. that, in turn, generated new fears of economic fallout. we have a report from jonathan rugman of independent television news. >> reporter: the news from rome has sent...
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Feb 27, 2013
02/13
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captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: lawrence summers is here, he is a professor at harvard, where he was president from 2001 to 2006. he was treasury secretary under president clinton and returned to the white house in 2009 as advisor of the national economic council, in that role he was central to president obama's the response to the financial crisis, he is here to talk about the scwes officer imposed in summer of 2011 and intended as a consequence so unacceptable congress and the president would have to agree on revenue increases and spending cuts in order to avoid it. with three days to go they have not been able to do that, the first $85 billion about spending cuts will take effect on march 1st, ben bernanke testified to cock earlier today he promised to extend the federal reserve stimulus measures and make made a direct appeal to avoid the sequester. >> the congress and the administration should consider replacing the sharp front loaded spending cuts required by the sequestration with policies that reduce
captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: lawrence summers is here, he is a professor at harvard, where he was president from 2001 to 2006. he was treasury secretary under president clinton and returned to the white house in 2009 as advisor of the national economic council, in that role he was central to president obama's the response to the financial crisis, he is here to talk about the scwes officer imposed in summer of...
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Feb 2, 2013
02/13
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this is the capitol city and has been the seat of government since the founding 403 years ago. and so the exercise of political power and the development of public policy is another theme. the history of santa fe is distinctive. for one thing, santa fe became a u.s. territory in 1848. and it was a territory for a very long time. the country and washington were reluctant to make santa fe a state. that eventually happened in 1912. new mexico existed as a territory for so long, in someso many ways doesn't seem to fit the rest of the country. and in fact, santa fe proudly, for a long, long time, has described itself as the city different. santa fe was -- and new mexico were explored by the spanish, coming from the south to the north. not from anglos coming from the east to the west. that's one difference. this community that's closely tied to the catholic church, priests accompanied spanish settlers on their way north and establishment of the church and establishment of the community of santa fe are inseparable. of course, this is-was a spanish speaking territory. populated mostly
this is the capitol city and has been the seat of government since the founding 403 years ago. and so the exercise of political power and the development of public policy is another theme. the history of santa fe is distinctive. for one thing, santa fe became a u.s. territory in 1848. and it was a territory for a very long time. the country and washington were reluctant to make santa fe a state. that eventually happened in 1912. new mexico existed as a territory for so long, in someso many ways...
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Feb 22, 2013
02/13
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the city has substantial control over that. when they do go up, there will be capital losses all over the place. interest rates go up. the prices go down. that includes my wife and i, we are going to suffer capital losses. and the risk management system of financial institution fails, like they filled in 2000 and 2009, if they do, they do will be serious lawsuits to a lot of institutions. if that happens, we should hit them over the head with a sledgehammer. it's not that they screwed up badly at that time, but they should have learned something from that. if they are not, they are going to suffer significant losses. that is inevitable. the only question is the timing, including the speed. although you never know for sure with markets. the housing bubble collapses pretty fast. this bond bubble, if you want to call it that. the question, of course, people should be listening. they should be listening. it should not cause a financial craddock wisdom. >> hello, i am an ordinary citizen, ordinary citizen number two. >> not just a s
the city has substantial control over that. when they do go up, there will be capital losses all over the place. interest rates go up. the prices go down. that includes my wife and i, we are going to suffer capital losses. and the risk management system of financial institution fails, like they filled in 2000 and 2009, if they do, they do will be serious lawsuits to a lot of institutions. if that happens, we should hit them over the head with a sledgehammer. it's not that they screwed up badly...
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economy into the gutter and the reliance on the city of london to generate some kind of g.d.p. growth is also being challenged by the move from the pendulum or the center of gravity swinging from the u.k. as a financial center to frankfurt because the euro is emerging as a much more stable currency than the pound so he keeps on pushing inflation as the solution the. loses every time it doesn't help anybody and we can see that the most important chart in british politics so this is following on simon rosenberg's the north star of obama's policy the most important chart in american politics which is if you look at this chart the same in the u.k. the same in the us and that is that household incomes have lagged behind g.d.p. and productivity growth so here's your inflation for you all the g.d.p. growth this inflation is going to the financial pushers so the dark blue line on the bottom is median household income and that's barely risen in ten years as you can see red line is output per worker soaring light blue at the top is g.d.p. per person so it doesn't take a rocket scientist
economy into the gutter and the reliance on the city of london to generate some kind of g.d.p. growth is also being challenged by the move from the pendulum or the center of gravity swinging from the u.k. as a financial center to frankfurt because the euro is emerging as a much more stable currency than the pound so he keeps on pushing inflation as the solution the. loses every time it doesn't help anybody and we can see that the most important chart in british politics so this is following on...
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Feb 24, 2013
02/13
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WBAL
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>> well, we've seen over the past several years the tech community in new york city has grown and our tech sector has arrived. what's amazing is we have over 900 tech companies here in new york city that are 75% or more developed in the five boroughs. over 120,000 people with working in the sector. we thought it's important the world is aware of this. we launched we are made in new york. it's a one-stop shop for all the programs and resources that you need to participate in the new tech ecosystem and crucially, find a job. >> talk about this boom in the technology sector. what does it mean in terms of economic impact? certainly, the local impact has to be very strong. >> absolutely. one of the hallmark ps of the bloomberg administration has been to diversify the economy. we have so many industries here that are so powerful. media, fashion, finance and real estate. a lot of these are driving the business models of the tech sector, so it makes sense the companies are based here. 2012 was a fantastic year for tech in new york city. over $8.3 billion worth of acquisitions. >> tell me abou
>> well, we've seen over the past several years the tech community in new york city has grown and our tech sector has arrived. what's amazing is we have over 900 tech companies here in new york city that are 75% or more developed in the five boroughs. over 120,000 people with working in the sector. we thought it's important the world is aware of this. we launched we are made in new york. it's a one-stop shop for all the programs and resources that you need to participate in the new tech...
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economy into the gutter and the reliance on the city of london to generate some kind of g.d.p. growth is also being challenged by the move from the pendulum or the center of gravity swinging from the u.k. as a financial center to frankfurt because the euro is emerging as a much more stable currency than the pound so he keeps on pushing inflation as the solution the. loses every time it doesn't help anybody and we can see that the most important chart in british politics so this is following on simon rosenberg's the north star of obama's policy the most important chart in american politics which is if you look at this chart the same in the u.k. the same in the u.s. and that is that household incomes have lagged behind g.d.p. and productivity growth so here's your inflation for you all the g.d.p. growth this inflation is going to the financial pushers so the dark blue line on the bottom is median household income and that's barely risen in ten years as you can see red line is output per worker soaring light blue at the top is g.d.p. per person so it doesn't take a rocket scientis
economy into the gutter and the reliance on the city of london to generate some kind of g.d.p. growth is also being challenged by the move from the pendulum or the center of gravity swinging from the u.k. as a financial center to frankfurt because the euro is emerging as a much more stable currency than the pound so he keeps on pushing inflation as the solution the. loses every time it doesn't help anybody and we can see that the most important chart in british politics so this is following on...
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about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean this is a you know it's your disability payment what they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy five billion pounds of new money it is now that it's increased if i was out of billions of pounds that didn't that came from the central bank it hasn't made the economy any wealthier so are some of these people are getting much much richer only be because the rest of us are getting much poorer now it's actually because the one reason they claim it's not printing money is because they can reverse it you can imagine can you the bank of england actually sitting on a third of the stock if u.k. gilts one dead are going to say well we're going to try something with now what on earth is going to happen
about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean this is a you know it's your disability payment what they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy...
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about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about that just rather more expensive moochers i think it is not true there there are moochers they're living on the dole they're being given money they want to want to save face i mean is it is is a is you know it's your disability payment what they're claiming it's not printing money but effectively that's exactly what it is three hundred seventy five billion pounds of new money if there's nobody to increase that it's a village a palace that didn't that came from the central bank it hasn't made the economy any wealthier so as some of these people are getting much much richer only be because the rest of us are getting much poorer now it's actually because the one reason they claim it's not printing money is because they can reverse it you can imagine can you the bank of england actually sitting on a third of the stock u.k. gilts one dead are going to say well we're going to try something with now what on earth is going to happen to get pr
about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about that just rather more expensive moochers i think it is not true there there are moochers they're living on the dole they're being given money they want to want to save face i mean is it is is a is you know it's your disability payment what they're claiming it's not printing money but effectively that's exactly what it is three hundred seventy...
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about all the neuter's living on the dole but isn't much of the city activity really a form of living off the. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean is it is is a is you know it's your disability paying what they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy five billion pounds of new money if there's nobody to increase that it's a village a palace that didn't that came from the central bank it hasn't made the economy any wealthiest there are some of these people are getting much much richer only be because the rest of us are getting much poorer now it's a good as the one reason they claim it's not printing money is because they can reverse it you can imagine can you the bank of england actually sitting on a third of the stock u.k. gilts one day going to say well we're going to try something that now what on earth is going to happen to
about all the neuter's living on the dole but isn't much of the city activity really a form of living off the. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean is it is is a is you know it's your disability paying what they're claiming it's not printing money but in fact to be that's exactly what it is three...
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about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true there there are moochers they're living on the dole they're being given money they want to want to have a saying is it is a is you know it's your disability payment they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy five billion pounds of new money if there's nobody to increase that it's a village a palace that didn't that came from the central bank it hasn't made the economy any wealthier so as some of these people are getting much much richer only be because the rest of us are getting much poorer now it's actually because the one reason they claim it's not printing money is because they can reverse it you can imagine can you the bank of england actually sitting on a third of the stock u.k. gilts one day going to say well we're going to try something that now what on earth is going to happen to get prices right ther
about all the moochers living on the dole but isn't much of the city activity really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true there there are moochers they're living on the dole they're being given money they want to want to have a saying is it is a is you know it's your disability payment they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy five...
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about all the neuter's living on the dole but isn't much of the city actively really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean this is it is a is you know it's your disability payment what they're claiming it's not printing money but in fact to be that's exactly what it is three hundred seventy five billion pounds of new money if there's nobody to increase that it's a village a palace that didn't that came from the central bank it hasn't made the economy any wealthiest there are some of these people are getting much much richer only be because the rest of us are getting much poorer now it's actually because the one reason they claim it's not printing money is because they can reverse it you can imagine can you the bank of england actually sitting on a third of the stock u.k. gilts one dead are going to say well we're going to try something that now what on earth is going to hap
about all the neuter's living on the dole but isn't much of the city actively really form a living off. it's an interesting concept i hadn't thought about not just rather more expensive moochers i think it is not true that there there are moochers they're living on the dole they're being given money they want to want to save face i mean this is it is a is you know it's your disability payment what they're claiming it's not printing money but in fact to be that's exactly what it is three hundred...